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Fintech Startup Koho Financial Lands Undisclosed Investment from Power Financial

Power Financial is investing in Canada’s fintech industry again with its third investment in less than a year.

Techvibes learned today that Power Financial will be investing an undisclosed amount in Vancouver’s Koho Financial, who offers a modern, no-fee mobile account targeted at millennials.

Founder Daniel Eberhard told Techvibes that Koho is in the process of raising a round with Power Financial’s participation.

Eberhard expanded, “This round will help Koho continue to expand our feature set and get our product out to the 6000 people on the launch waitlist. Power’s investment will be instrumental in this and we’re super excited to be working with them.”

Last year Power Financial invested $30 million in robo-advisor Wealthsimple and earlier this year they were part of a $6.4 million investment in Borrowell.

RELATED: Warning to Canada’s Big Five Banks: Startups are Coming

Koho raised a $1 million financing round one year ago from a mix of Canadian angels and funds that included Joe Canavan, Ferst Capital, Hedgewood, Highline and Stanley Park Ventures.

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